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Ob’s now president……

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The Audacity of Hype by Gary North

The Medicare Act of 1965 made it impossible to avoid a national default. The numbers are horrendous. Occasionally, a subcommittee of Congress invites an economist to come and testify on this. The testimony gets no publicity. The committee chairman thanks the economist, who then returns to obscurity.

This fiscal year, the combined unfunded liability of Social Security and Medicare will be in the range of $75 trillion. No one in government notices, other than Ron Paul and a few similarly minded House members. No one cares. Such numbers are considered naïve. They are only numbers. Numbers above $1 billion do not register mentally. Parkinson told us this during Eisenhower’s Administration. Nothing has changed.

Written by mrcauser

January 20, 2009 at 7:51 pm

Posted in Uncategorized

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